Author: Press Room

Even by Washington standards, the second Trump presidency has begun in frenetic fashion: mass firings at federal agencies, tariff threats against allies and foes alike, and haggling over how to get a Republican budget through a narrowly divided Congress.Business leaders and corporate investors are confident that things will turn out fine, at least for them. “Markets aren’t showing all that much concern,” Jason Pride, chief of investment strategy and research at the Glenmede Trust Company, noted.But that could change, with high-stakes implications for the markets and the U.S. economic outlook.Investors fully expect the tax cuts from President Trump’s first term,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Opec+ said it will proceed with a plan to increase oil production from April, in an unexpected move by the cartel that sent crude prices tumbling.Saudi Arabia and seven other members of the Opec+ group had previously delayed a plan to unwind long-standing output cuts several times and traders had widely expected it to be postponed again.But Opec+ said on Monday it had agreed to proceed with the “gradual and flexible return” of 2.2mn barrels a day of oil production over the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Rothschild & Co has hired the former Moelis investment banker who quit last year after a viral video showed him punching a person in the face during a New York City Pride event. Jonathan Kaye, a senior investment banker who worked at Moelis for 11 years before resigning last June, is joining Rothschild in the US as global co-head of its business services team, advising clients such as consultancies and logistics companies. Rothschild’s announcement comes days after Kaye pleaded guilty to misdemeanour…

(Correction: An earlier version of this article included an incorrect order on our All-America teams. Paige Bueckers is a member of The Athletic’s All-America first team, and Ta’Niya Latson is a second-team All-America selection.)With the regular season in the rearview, The Athletic’s team of dedicated writers and contributors got together to take stock of everything they’ve witnessed since November and made some tough decisions about the best of the best in an impressive year of hoops. Some of their preseason predictions came true as four preseason All-America members were also on the season-end first-team.But two big surprises they didn’t see…

Tesla has recalled 297 examples of the Model Y SUV and Model 3 sedan in Australia, due to a fault which could result in a loss of power-assisted steering.“Due to a software issue, the Electronic Power Assist Steering system (EPAS) may not operate as intended,” the carmaker said in its recall notice.“This may result in a loss of power steering assist and could require greater steering effort from the driver.“A loss of power steering assist driving may increase the risk of an accident, causing serious injury or death to vehicle occupants and other road users.”Hundreds of new car deals are…

The consequences of ignoring young people’s concerns could be dire for President Prabowo Subianto’s government, say these experts from ISEAS-Yusof Ishak Institute.

Check out the companies making headlines in midday trading: Intel — Shares declined 4.2%. Earlier in the day, shares rose more than 2% after Reuters, citing two sources familiar with the matter, reported that chipmakers Nvidia and Broadcom are running manufacturing tests with Intel . The tests signal that both companies are heading closer toward committing hundreds of millions of dollars’ worth of manufacturing contracts to Intel, Reuters said. Chinese automakers — U.S. shares of Chinese electric vehicle brands fell on the heels of their latest deliveries reports . Shares of Xpeng slid 5.8%, and Nio dropped 8.6%, while Li…

One day after Israel began halting the entry of all goods and humanitarian assistance into the Gaza Strip, Palestinians there are already feeling the effects of the sweeping measure, with prices of essential goods on the rise.“It was a complete shock,” Iman Saber, a 24-year-old nurse from northern Gaza, said of Israel’s decision on Sunday to block aid and commercial shipments.Already, said Ms. Saber, who has been living in a tent with her father, a cancer patient, and her mother and sister, prices for sugar, oil and chicken have gone up, and hopes raised by the cease-fire between Israel and…

President Trump said on social media Sunday that his administration is working toward creating a “crypto strategic reserve” that will include bitcoin and ethereum, along with lesser-known cryptocurrencies XRP, solana, and cardano. He later followed up with another post saying his planned reserve would also include bitcoin and ether, the two most popular cryptocurrencies.The announcement helped crypto prices rebound after recent sell-offs, but only for a few hours. After rising to $90,000 Monday morning, bitcoin fell to roughly $87,000, or 7.3%, by Monday afternoon. Ethereum tumbled 14.6% to $2,153. Massive price spikes in XRP, solana and cardano also fizzled, dropping…

He had two Oscars, adoring fans and four decades of acting to his credit. He won over critics, befriended celebrities and starred in scores of films watched by millions of moviegoers. But for the past two decades, Gene Hackman found solace at the end of a quiet cul-de-sac where few neighbors ever even saw him.Mr. Hackman, 95, and his wife, Betsy Arakawa, 65, who were both found dead in their home just outside Santa Fe, N.M., last week, were famous for their privacy after retiring. And the revelation that Mr. Hackman probably died nine days before the couple’s bodies were…